Currently, if a person has capital in excess of £23,250, they will generally be responsible for the funding of their own care until such time as their money falls below this threshold. If the person requires a certain level of nursing care, a contribution or even all of the cost of care could be funded by the NHS (not means tested).

With good planning, it may be possible, when care is needed, to structure your finances in such a way that care fees can be paid for the rest of your life, providing peace of mind.

These are impaired life annuity plans that are specifically designed to meet the cost of care in either a care home or in the person’s home. They usually pay the income shortfall, i.e. the gap between income available and the cost of fees or up to the whole amount of the fees. The payment from the plan is paid tax free when made to a Care Quality Commission registered care provider. Payments are made for the rest of the person’s life. Indexation options are available to protect against inflation as are capital protection options to reduce risk in event of early death. The lump sum cost to purchase is fully underwritten and is calculated on the person’s age and health; so the shorter someone’s life expectancy, the lesser the sum needed to buy the income to cover care costs.

Payments are guaranteed to be made tax free for life, while a reduction in the value of your estate could potentially save IHT due on death. The plan provides peace of mind as the income will always be paid until death. Portability, if there is a change of care providers. Deferred options are available that defer income payments for a cheaper plan cost. The plans are protected by the Financial Services Compensation Scheme.

There are a range of capital protection options which offer to pay up to 70% of the plan purchase cost in event of death less the payments made to the date of death. Alternatively, capital guarantees are provided in the first six months of the plan’s commencement (some providers offer this free of charge) in event of death and a proportion of the purchase cost is returned to the estate less payments made to the date of death. A popular way to mitigate the potential loss of capital in the event of early death, however, is to purchase the plan on a deferred start basis.

The pension freedom is for those retiring and having a choice on how they take benefits to supplement their life in retirement. A Care Fees Payment Plan is for those that are at the point of need for care and have an income shortfall requirement for the rest of their life.

Your team is amazing and nothing is too much trouble, which is such a huge relief and great reassurance for me living all the way in France.

Sandy, resident's daughter

Words cannot express my gratitude to each and every one of you! It is a great comfort to know how much my Mum was loved and respected at Brooklands.

Liz, resident's daughter

Thank you for the excellent care and support you gave to Greta during her stay with you. It has been a great comfort to us all knowing that she was being cared for with such kindness - your compassion and support shines through.

Sara Smith, resident's daughter-in-law

The team at Brooklands were kind and caring in dealing with mum’s needs, which made the transition so much easier - we relaxed because we knew mum was settled and well looked after.

Lindsey Wright, resident's daughter

I adore the happy and friendly atmosphere at Brooklands – our residents and staff are like family. We encourage residents and families to get involved as much as possible in the many activities we offer.

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Your team is amazing and nothing is too much trouble, which is such a huge relief and great reassurance for me living all the way in France.

Sandy, resident's daughter

Words cannot express my gratitude to each and every one of you! It is a great comfort to know how much my Mum was loved and respected at Brooklands.

Liz, resident's daughter

Thank you for the excellent care and support you gave to Greta during her stay with you. It has been a great comfort to us all knowing that she was being cared for with such kindness - your compassion and support shines through.

Sara Smith, resident's daughter-in-law

The team at Brooklands were kind and caring in dealing with mum’s needs, which made the transition so much easier - we relaxed because we knew mum was settled and well looked after.

Lindsey Wright, resident's daughter

I adore the happy and friendly atmosphere at Brooklands – our residents and staff are like family. We encourage residents and families to get involved as much as possible in the many activities we offer.

Karen Reynolds, Team Leader

Call Brooklands Care Home on 01603 557 096. If you are looking for a job please call our recruitment enquiry line on 01603 262 666.